What is the corporate strategy of MTR?
What is the corporate strategy of MTR? This Corporate Strategy also sets out well-defined environmental, social and governance (“ESG”) objectives to guide the Company's operations (including its core Hong Kong Businesses, Mainland China and International Businesses, and New Growth Engine) which enables us to achieve sustainable, mutually beneficial growth ...
Does MTR run on electricity?
Electrically-powered mass railway is generally acknowledged to be the most environmentally sustainable way to transport the world's growing and urbanising populations. We believe that our most significant contributions to the environment arise from impacts that do not occur as a result of our services.
How many people use the MTR every day?
[1] Hong Kong's Mass Transit Railway (MTR) is the city's main public transport network. It handles just shy of 4 million passenger journeys every day. The MTR has a reputation for being clean, safe and reliable. The system is mostly underground.
What is the business model of MTR Hong Kong?
The key is a business model called “Rail plus Property” (R+P). For new rail lines, the government provides MTR with land “development rights” at stations or depots along the route.
Is the MTR profitable?
Hong Kong's MTR Corporation reported HK$2.43 billion (US$311.5 million) in profits from recurrent business in the first half of the year, rebounding from a HK$678 million loss in the same period in 2022, as the rail giant accelerated out of the coronavirus crisis.
How does the MTR make money?
MTR stations host more than 1,400 shops and nearly 47,000 advertising units. The company charges rent as well as earning money from telecoms operators by allowing them to provide mobile network coverage inside the rail system.
Why is MTR so cheap?
Originally Answered: How can the the Hong Kong MTR (metro transportation) be so cheap? The answer is simple, the MTR and Airport Express networks comprise a total of 93 stations and carry an average of about 4.84 million passengers per day. If there were fewer passengers, it would be much more expensive.
Why is Hong Kong MTR so good?
Its affordable transport network has high station density and a strong rail network for the city's large population. It's a popular mode of transit among commuters, despite the fact that it isn't available 24/7, like in some cities.
Who is the parent Company of MTR Corporation?
The MTR Corporation was established in 1975 as the Mass Transit Railway Corporation with a mission to construct and operate, under prudent commercial principles, an urban metro system to help meet Hong Kong's public transport requirements. The sole shareholder was the Hong Kong Government.
Is MTR a public corporation?
Following a successful initial public offering, the MTRCL was listed on the Hong Kong Stock Exchange on 5 October 2000, however, the government is still the majority stakeholder in the MTRCL.
Why work for MTR?
Rewards & Recognition We provide market competitive pay and benefits (including free travel on MTR network, comprehensive medical coverage and retirement scheme) and reward good performance through our pay-for-performance mechanism and incentive schemes.
Is MTR a conglomerate?
MTR Foods Pvt. Ltd. is a subsidiary of Norwegian conglomerate Orkla. MTR is the acronym of Mavalli Tiffin Room. The company began with the establishment of the Mavalli Tiffin room (commonly known as MTR) restaurant in Bangalore in 1924 by Yagnanarayana Maiya.
Is MTR Privatised?
On 5 October 2000 the operator of the MTR network, the Mass Transit Railway Corporation (MTRC), became Hong Kong's first rail company to be partially privatised, marking the beginning of the Hong Kong government's initiative to reduce its interests in public utilities.
Why is MTR a monopoly?
As Hong Kong is very densely populated, there would be no physical space for another railway network to perform in Hong Kong. The MTR already connects a large number of Hong Kong areas to each other, and while the MTR line can be extended, there could not be another corporation competing in the same field.